Zacks Investment Research upgraded shares of EnLink Midstream Partners, LP (NYSE:ENLK) from a sell rating to a hold rating in a research report report published on Thursday morning.
According to Zacks, “EnLink Midstream Partners LP is a midstream energy company. It focuses on providing midstream energy services, including gathering, processing, transmission and marketing, to producers of natural gas, natural gas liquids and crude oil. The company also provides crude oil, condensate, and brine services to producers. It operates in the Gulf Coast region of the United States. EnLink Midstream Partners LP, formerly known as Crosstex Energy L.P., is based in Dallas, Texas. “
Other research analysts have also recently issued research reports about the stock. BidaskClub raised shares of EnLink Midstream Partners, from a sell rating to a hold rating in a research report on Wednesday, July 19th. UBS AG raised shares of EnLink Midstream Partners, from a neutral rating to a buy rating and set a $19.00 target price on the stock in a research report on Tuesday, October 24th. ValuEngine cut shares of EnLink Midstream Partners, from a hold rating to a sell rating in a research report on Friday, September 1st. Jefferies Group LLC reaffirmed a hold rating and issued a $16.00 target price (down previously from $17.00) on shares of EnLink Midstream Partners, in a research report on Sunday, September 3rd. Finally, Seaport Global Securities began coverage on shares of EnLink Midstream Partners, in a research report on Tuesday, October 10th. They issued a neutral rating and a $18.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $18.29.
Shares of EnLink Midstream Partners, (NYSE:ENLK) traded up 4.41% during midday trading on Thursday, hitting $15.87. 735,458 shares of the stock traded hands. The stock’s market cap is $5.53 billion. The company’s 50 day moving average price is $16.29 and its 200-day moving average price is $16.63. EnLink Midstream Partners, has a 12-month low of $14.43 and a 12-month high of $19.59.
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The business also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Wednesday, November 1st will be given a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $1.56 dividend on an annualized basis and a yield of 9.83%. EnLink Midstream Partners,’s payout ratio is currently -649.97%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its position in EnLink Midstream Partners, by 54.0% in the first quarter. Bank of America Corp DE now owns 1,660,821 shares of the oil and gas producer’s stock valued at $30,393,000 after buying an additional 582,364 shares during the last quarter. Castleton Investment Management LLC purchased a new stake in EnLink Midstream Partners, during the second quarter worth about $2,204,000. Penserra Capital Management LLC increased its stake in EnLink Midstream Partners, by 244.6% during the second quarter. Penserra Capital Management LLC now owns 8,948 shares of the oil and gas producer’s stock worth $151,000 after purchasing an additional 6,351 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in EnLink Midstream Partners, during the first quarter worth about $545,000. Finally, Dividend Assets Capital LLC increased its stake in EnLink Midstream Partners, by 12.0% during the second quarter. Dividend Assets Capital LLC now owns 810,710 shares of the oil and gas producer’s stock worth $13,750,000 after purchasing an additional 86,690 shares during the period. 40.64% of the stock is currently owned by institutional investors.
About EnLink Midstream Partners,
EnLink Midstream Partners, LP is a midstream company. The Company’s business activities are conducted through its subsidiary, EnLink Midstream Operating, LP (the Operating Partnership) and the subsidiaries of the Operating Partnership. The Company operates through five segments: Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate.
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